Insurance too high?

alan g · 02-13-2012, 05:13 AM

I live in New York (Long Island) and own a 360 Spyder. My new insurance premium for this coming year will be $1430. This seems very high for a car I drive only2000 miles a year. Any suggestions?

tazandjan · 02-13-2012, 06:36 AM

Alan- Considering car and location, that does not seem out of line to me for annual insurance, especially since we do not know what your driving record shows. Is the declared annual mileage on your car 2000 miles and do you carry $1000 deductibles? Both of those will lower the rate.

champagne612 · 02-13-2012, 06:47 AM

Quote:

Originally Posted by tazandjan

Alan- Considering car and location, that does not seem out of line to me for annual insurance, especially since we do not know what your driving record shows. Is the declared annual mileage on your car 2000 miles and do you carry $1000 deductibles? Both of those will lower the rate.

I went up to 5,000 deductible cut the premium by 35% - let's face it on these cars for anything under 5,000 you shouldn't claim it anyway.

Suggest windshield insurance though - 6k for a new screen makes for a bad day ... as I knock on wood!

cribbj · 02-13-2012, 07:42 AM

Alan, compare what your 360's premium is against, say your DD to see if it seems reasonable.

My 550's premium is actually less than what we pay for wifey's Suburban for identical coverage. The 550 is also 10 years older than the Suburban, which probably isn't the case with your 360.

BTW, here in TX, I pay about 2/3 of what you're paying, but wifey & I are both over 55, and we have a multicar discount, multipolicy discount, very good driving records, etc.

geri.hilton1 · 02-23-2012, 10:19 PM

If you drive just that much you should be eligible for some kind of low mileage discount. If you’re over 50, think about joining a group like the AARP. I have a classic car and the AARP classic car insurance quotes are affordable for me, which has been such a relief in the last few years.

02-13-2012, 05:13 AM	#1
alan g Owner Join Date: Feb 2009 Location: Port Washington, NY Ferrari Life Posts: 32	Insurance too high? I live in New York (Long Island) and own a 360 Spyder. My new insurance premium for this coming year will be $1430. This seems very high for a car I drive only2000 miles a year. Any suggestions?

02-13-2012, 06:36 AM	#2
tazandjan Owner Elite Member Join Date: Aug 2011 Location: Albuquerque, NM Ferrari Life Posts: 3,592 Name: Terry H Phillips	Alan- Considering car and location, that does not seem out of line to me for annual insurance, especially since we do not know what your driving record shows. Is the declared annual mileage on your car 2000 miles and do you carry $1000 deductibles? Both of those will lower the rate. Taz Terry Phillips Present: 575M 135171 Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125 Every day I look around, and if nobody is shooting at me, it is a pretty good day.

02-13-2012, 07:42 AM	#4
cribbj Owner Elite Member Join Date: Apr 2010 Location: Houston Ferrari Life Posts: 737 Name: John	Alan, compare what your 360's premium is against, say your DD to see if it seems reasonable. My 550's premium is actually less than what we pay for wifey's Suburban for identical coverage. The 550 is also 10 years older than the Suburban, which probably isn't the case with your 360. BTW, here in TX, I pay about 2/3 of what you're paying, but wifey & I are both over 55, and we have a multicar discount, multipolicy discount, very good driving records, etc. '99 550, Rosso Corsa / Nero, S/N:114654, Assy: 31836, Engine: 52084 High mileage, low compression, and missing on a few cylinders.....just like my cars.

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02-23-2012, 10:19 PM	#5
geri.hilton1 Join Date: Feb 2012 Ferrari Life Posts: 3	If you drive just that much you should be eligible for some kind of low mileage discount. If you’re over 50, think about joining a group like the AARP. I have a classic car and the AARP classic car insurance quotes are affordable for me, which has been such a relief in the last few years.